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Car Loan Calculator
Enter the car price and deposit to work out how much you would borrow, then see the monthly payment, total interest, and total repayment for your rate and term.
How this car loan calculator works
A larger deposit reduces the amount borrowed, which lowers both the monthly payment and the total interest. This calculator assumes a fixed rate and equal monthly payments, and covers principal and interest only. For a general loan without a vehicle price, use the loan calculator, and for a property, use the mortgage calculator.
Disclaimer: For general information only; this is not financial advice.
Frequently asked questions
How is the car loan amount calculated?
The amount borrowed is the car price minus your deposit. For example, a 25,000 car price with a 5,000 deposit means a 20,000 loan, and the monthly payment is calculated on that 20,000.
What terms are common for car loans?
Common terms include 36, 48, and 60 months, sometimes up to 72 or 84 months. A longer term lowers the monthly payment but usually increases total interest, so compare both figures.
Does this include insurance or fees?
No. This calculator covers principal and interest only. Insurance, registration, and dealer fees are not included.